Resource of a large financial institution – As one of the nation's leading financial institutions, we provide our clients with an in-house registered investment advisor, large pool of potential managers, trade execution and third-party research and data.

Separately Managed Accounts (SMAs) – SMAs provide access to carefully selected money managers in order to add diversification that may enhance the overall performance of a portfolio.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of its affiliates or third party providers.

The information provided represents the opinion of U.S. Bank and is not intended to be a forecast of future events or guarantee of future results. It is not intended to provide specific investment advice and should not be construed as an offering of securities or recommendation to invest. Not for use as a primary basis of investment decisions. Not to be construed to meet the needs of any particular investor. Not a representation or solicitation or an offer to sell/buy any security. Investors should consult with their investment professional for advice concerning their particular situation.

U.S. Bank and its representatives do not provide tax or legal advice. Each individual's tax and financial situation is unique. Individuals should consult their tax and/or legal advisor for advice and information concerning their particular situation.

Mutual fund investing involves risk; principal loss is possible. Investing in certain funds involves special risks, such as those related to investments in small- and mid-capitalization stocks, foreign, debt, and high-yield securities, and funds that focus their investments in a particular industry. Please refer to the fund prospectus for additional details pertaining to these risks.

U.S. Bancorp Asset Management, Inc. (USBAM) is a registered investment advisor and subsidiary of U.S. Bank National Association. USBAM serves as investment advisor to the First American Funds. First American Funds are distributed by Quasar Distributors, LLC, an affiliate of the investment advisor. U.S. Bank is not responsible for and does not guarantee the products, services or performance of its affiliates.

Equity securities are subject to stock market fluctuations that occur in response to economic and business developments. Growth stocks are typically more volatile than value stocks; however, value stocks have a lower expected growth rate in earnings and sales. International investing involves risks not typically associated with domestic investing, including risks of adverse currency fluctuations, potential political and economic instability, different accounting standards, foreign government regulations, currency exchange rates, limited liquidity, and volatile prices. The risks of international investing are particularly significant in emerging markets. Investments in fixed income (debt securities) typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Alternative investments very often use speculative investment and trading strategies. There is no guarantee the investment program will be successful. Alternative investments are designed only for sophisticated persons who are able to tolerate the full loss of an investment. These products are not suitable for every investor even if the investor does not meet the financial requirements. It is important to consult with you investment professional to determine how these investments might fit you asset allocation, risk profile, and tax situation. There are special risks associated with an investment in commodities, including market price fluctuations, regulatory changes, interest rate changes, credit risk, economic changes, and the impact of adverse political or financial factors. An investment in a hedge fund involves a substantially more complicated set of risk factors than traditional investments in stocks and bonds Hedge funds are speculative and involve a high degree of risk. Private equity consists of investors and funds that make investments directly into private companies that result in a delisting of public equity. Potential investors should remember that investments in private equity are illiquid by nature and typically represent a long-term binding commitment. The investments made by private equity funds are not readily marketable and the valuation procedures for those positions are often subjective in nature. Exchange Traded Funds (EFTs) are baskets of securities that are traded on an exchange like individual stocks at negotiated prices and are not individually redeemable. Shares of EFTs may trade at a premium or a discount to the net asset value of the underlying securities. Structured products are subject to market risk and/or principal loss if sold prior to maturity or if the issuer defaults on the security. Investors should request and review copies of Structured Products Pricing Supplements and Prospectuses prior to approving or directing an investment in these securities.